Climate change is a global phenomenon. Its impact on economic growth must therefore be analyzed in accordance with its (time-varying) common effects. We present an econometric analysis that evaluates this effect taking into account its global nature. Contrary to previous evidence that ignores the global effects, we obtain that the rising temperature has not decreased growth in real GDP per capita in the second half of the twentieth century for the world countries. However, we obtain a negative effect of rising temperatures and a positive effect of rising precipitation in poor countries. This positive effect of rising precipitation is also confirmed for hot and temperate countries.

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A navegação consulta e descarregamento dos títulos inseridos nas Bibliotecas Digitais UC Digitalis, UC Pombalina e UC Impactum, pressupõem a aceitação plena e sem reservas dos Termos e Condições de Uso destas Bibliotecas Digitais, disponíveis em https://digitalis.uc.pt/pt-pt/termos.Conforme exposto nos referidos Termos e Condições de Uso, o descarregamento de títulos de acesso restrito requer uma licença válida de autorização devendo o utilizador aceder ao(s) documento(s) a partir de um endereço de IP da instituição detentora da supramencionada licença.Ao utilizador é apenas permitido o descarregamento para uso pessoal, pelo que o emprego do(s) título(s) descarregado(s) para outro fim, designadamente comercial, carece de autorização do respetivo autor ou editor da obra.Na medida em que todas as obras da UC Digitalis se encontram protegidas pelo Código do Direito de Autor e Direitos Conexos e demais legislação aplicável, toda a cópia, parcial ou total, deste documento, nos casos em que é legalmente admitida, deverá conter ou fazer-se acompanhar por este aviso. Panel analysis of the FDI impact on international trade revisited Autor(es):Magalhães, Manuela; Africano, Ana Paula ABSTRACT This paper examines the relationship between Foreign Direct Investment (FDI) and international trade. Specifically, the relationship between the stock of outward FDI, and inward FDI and Imports and Exports in the Portuguese economy. This paper also studies some technical problems associated with panel data that have frequently been ignored in previous studies. And the problems of serial and contemporaneous correlation in particular can have a sizeable impact on estimates and statistical inferences. Our results show that there exist country -specific and time effects on the corrected panel data of heteroscedasticity and correlation and a substitutability relationship between imports and outward stock of FDI over the period 2000 -2013.

The main purpose of this paper is to analyze the contribution of land capital to the growth of emissions and income per capita in the long run. We collect new satellite data from the Earth Observatory to obtain estimates of the Enhanced Vegetation Index at the country level for the period 2000–2015. We use these data and the World Bank wealth estimates of natural capital to calibrate and empirically test an extension of the Green Solow model with land degradation and land capital investment. We show that the model is consistent with the cross-country variation in growth rates of carbon emissions per capita and find that there is convergence at the global level, with the contribution of land capital investment to the growth of emissions being negative and significant in all specifications.

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